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Foreign Account Tax Compliance Act (FATCA) The Foreign Account Tax Compliance Act (FATCA) improves tax compliance involving foreign financial assets and offshore accounts. Under FATCA, certain U.S. taxpayers with specified foreign financial assets must report those assets to the IRS on Form 8938. FATCA will require foreign financial institutions to report directly to the IRS information about financial accounts held by U.S. taxpayers. Information for U.S. Citizens or Dual Citizens Residing Outside the U.S. U.S. citizens or dual citizens who reside outside the U.S. may have failed to timely file United States federal income tax returns or Reports of Foreign Bank and Financial Accounts (FBARs), despite being required to do so. This fact sheet summarizes information about federal income tax return and FBAR filing requirements, how to file a federal income tax return or FBAR, and potential penalties. Offshore Voluntary Disclosure Program Reopens The IRS has reopened the Offshore Voluntary Disclosure Program (OVDP) following continued strong interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs. This program will be open for an indefinite period until otherwise announced. Help With Tax Questions - International Taxpayers If you've looked around our site and still didn't find the answer to your general tax question for International Taxpayers, we'd like to help. Income from Abroad is Taxable There have been recent reports about the interest of the Internal Revenue Service (IRS) in taxpayers with bank accounts in Liechtenstein. The IRS' interest, however, extends beyond bank accounts in Liechtenstein to financial accounts anywhere in the world. The IRS reminds you to report your worldwide income on your U.S. tax return and lists the possible consequences of hiding income overseas. U.S. Citizens by Birth or through a U.S. Citizen Parent All persons born in the United States are U.S. citizens. This is the case regardless of the tax or immigration status of a persons parents. Furthermore, a person born outside the United States may also be a U.S. citizen at birth if at least one parent is a U.S. citizen and has lived in the United States for a period of time. U.S. Citizens and Resident Aliens Abroad This section covers tax topics for U.S. citizens or resident aliens living overseas. Taxation of Nonresident Aliens The U.S. source income of nonresident aliens is subject to U.S. taxation. Taxation of Resident Aliens A resident alien's income is generally subject to tax in the same manner as a U.S. citizen. Foreign Students and Scholars Aliens temporarily present in the United States as students, trainees, teachers, researchers, exchange visitors, and cultural exchange visitors are subject to special rules with respect to the taxation of their income. Tax Withholding on Foreign Persons This section covers tax withholding topics for payments made to U.S. citizens abroad or aliens employed both in the United States and abroad. This section also covers tax withholding and reporting rules on payments of U.S. source income made to foreign persons. Tax Treaties Tax treaties may allow residents of foreign countries to be taxed at a reduced rate, or to be exempt from U.S. income taxes on certain items of income they receive from sources within the United States. Taxpayer Identification Numbers (TIN) A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. Taxation of Foreign Athletes and Entertainers This section describes the special rules which affect the taxation of foreign athletes and entertainers who have income sourced in the United States. Alien Taxation - Certain Essential Concepts This section describes certain essential concepts involved in the taxation of aliens. Classification of Taxpayers for U.S. Tax Purposes This section will help you determine if you are a "Foreign Person" or a "United States person" for U.S. tax purposes. Determining Alien Tax Status If you are an alien (not a U.S. citizen), you are considered a nonresident alien unless you meet the Green Card test or the Substantial Presence test. Taxation of Dual-Status Aliens You are a dual-status alien when you have been both a resident alien and a nonresident alien in the same tax year. Special Categories of Alien Workers For U.S. tax purposes, Au Pairs and Farm Workers may be treated differently than others. Employees of Foreign Governments or International Organizations The wages paid to employees of foreign governments and international organizations are not usually taxable, but may be taxable in the case of U.S. citizens and resident aliens. New Developments in International Taxation This section provides the latest news on international taxes. Miscellaneous International Tax Issues This section covers subjects not previously discussed. Frequently Asked Questions Frequently Asked Questions for Aliens and U.S. Citizens Living Abroad |
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Page Last Reviewed or Updated: January 11, 2012